The pressure transmitter market was worth around $2,904.0 million in 2021, which is predicted to hit $4,168.7 million by 2030, advancing at a 4.1% CAGR between 2021 and 2030. The main factor driving the growth of the market is the rising need for wireless pressure transmitters. By reducing wiring runs, such devices usually provide lower installation costs and simpler installation in remote areas. Another important aspect influencing the market is the increase in industrial automation adoption due to its enhanced product quality, lower operating costs, and maintenance of health and safety.
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| Pressure Transmitter Industry Revenue Estimation and Demand Forecast, 2030 |
The
liquid category is the biggest revenue producer in the pressure transmitter
market, based on fluid type, and it will grow at a rate of 4.1% in the coming
years. In non-hydrocarbon liquids, a submersible pressure transmitter is used
for fluid pressure and level measurement, including in the water & wastewater
treatment domain. Moreover, differential and measured pressure transmitters are
widely used to gauge groundwater pump levels, as well as the hydrostatic liquid
levels in tanks.
The
level measurement category holds nearly 54.0% share of the global pressure
transmitter market, when segmenting by application. Additionally, the category
is expected to grow at a CAGR of 4.4% in the years to come. In the chemical,
water & wastewater treatment, and petrochemical industries, pressure
transmitters are widely used to examine the level in fuel tanks. Moreover, they
help reduce purchase and maintenance expenses, offer ease of usage, and are compact
in nature, therefore are suitable for applications of level measurement.
Get More Insights: Pressure Transmitter Market Revenue Estimation and Growth Forecast Report
In
2021, the water & wastewater treatment category produced $243.8 million in
the industry segment of the pressure transmitter market, and it is on the path
to generating $371.4 million during the forecast period. Around the world,
pressure transmitters are used in sewage systems, filtration facilities,
chemical feeds, pumping stations, storage facilities, mixing vessels, and wet
wells in the water & wastewater treatment industry. Such devices are used
at various stages of the wastewater treatment process, such as tertiary,
biological, primary, and secondary treatment.
Differential
pressure transmitters hold around 51.5% revenue share in the market, on the
basis of type. They are ideal in the oil & gas sector for level, pressure,
and flow measurement, for process control and monitoring. Moreover, they are
also utilized for measuring fluid flow, fluid level, and fluid density. Other
applications include flow measurement and level detection in the aforementioned
sectors, utilizing venturi tubes, orifice plates, low-loss flow tubes, pitot
tubes, and flow nozzles.
Players
have commenced a variety of strategic developments to remain competitive in the
market. For example, Huba Control introduced the 555-pressure transmitter,
which is suitable for high temperatures and designed for alternative-drive
systems, in June 2021. Type 555’s compact design and ruggedness enable
vibration and shock stability and also allow for long-term durability. Other key
players in the pressure transmitter market are Emerson Electric Co., Yokogawa
India Ltd., Schneider Electric, Hitachi High-Tech Corporation, Fuji Electric
Global, Danfoss, Honeywell International Inc., Siemens, and ABB Ltd.
Hence,
the potential of the market to grow in the coming years are high due to the rising
demand for potable water, booming chemical exports, and advancing oil & gas
industry.
